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McLaren to power FIA Formula E Championship

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McLaren has announced that it will supply the electric engine, transmission and electronics for the FIA's new Formula E series.

McLaren will work alongside Spark Racing Technology, which is responsible for the assembly of the electric cars participating in the new championship. Spark Racing Technology is a newly formed company led by Frederic Vasseur who is also the head of the Lotus GP2 team.

Formula E will be launched in 2014, solely featuring electric powered cars which will race on street circuits in major international cities. McLaren Group CEO Martin Whitmarsh said the new championship would be a big opportunity to help develop future technology.

The problem with electric cars (especially alternating current) is not performance; it is the amount of time to recharge and the distance one can travel on a charge. EVs don't go far enough on a charge and take too long to recharge to compete against gasoline or diesel.